Brian Campbell and Chris Rainey
Join Gabelli Funds Marketing Team

FOR IMMEDIATE RELEASE
Rye, NY
April 16, 2007
Contact :
James C. Scanlon
Director of Mutual Funds Marketing
Ph: (914) 921-7746

For further information please visit www.gabelli.com



GAMCO Investors, Inc. (NYSE:GBL - News) announced today that Brian A. Campbell and Chris Rainey will join Gabelli Funds, LLC as Regional Vice Presidents and external wholesalers for the firm's $16 billion mutual fund enterprise.

Mr. Campbell and Mr. Rainey have extensive wholesaling and marketing experience. For the past several years, they have both wholesaled for Enterprise Fund Distributors in Atlanta, GA.

Mr. Campbell will be responsible for building mutual fund, separate account and alternative relationships for GAMCO Investors, Inc. through expanded distribution in Tennessee, Kentucky and Ohio while Mr. Rainey will focus on the Florida market for our open-end funds, where the Gabelli Equity Income and Gabelli Utilities funds are popular investments.

"We are delighted to have Brian and Chris on our client marketing team to help expand our distribution. Their collective experience in wholesaling along with their extensive relationships will add significant value in our growth initiative to offer our investment products through financial intermediaries," said Mario J. Gabelli, Chairman and Chief Executive Officer of GAMCO Investors, Inc.

Mr. Campbell said, "I'm thrilled by the opportunity and excited to be with a firm that has such a well respected name in the business." Mr. Rainey added, "GAMCO has a long history of delivering superior returns for investors. The research intensive investment process and recognition of the Gabelli and Westwood brands are attributes that will resonate well with financial advisors."

GAMCO Investors, Inc., through its subsidiaries, manages approximately $28.1 billion in assets as of December 31, 2006, comprised of private advisory accounts (GAMCO), mutual funds and closed-end funds (Gabelli Funds, LLC), and partnerships and offshore funds (Investment Partnerships).

SPECIAL NOTE REGARDING FORWARD-LOOKING INFORMATION

Our disclosure and analysis in this press release contain some forward-looking statements. Forward-looking statements give our current expectations or forecasts of future events. You can identify these statements because they do not relate strictly to historical or current facts. They use words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," and other words and terms of similar meaning. They also appear in any discussion of future operating or financial performance. In particular, these include statements relating to future actions, future performance of our products, expenses, the outcome of any legal proceedings, and financial results. Although we believe that we are basing our expectations and beliefs on reasonable assumptions within the bounds of what we currently know about our business and operations, there can be no assurance that our actual results will not differ materially from what we expect or believe. Some of the factors that could cause our actual results to differ from our expectations or beliefs include, without limitation: the adverse effect from a decline in the securities markets; a decline in the performance of our products; a general downturn in the economy; changes in government policy or regulation; changes in our ability to attract or retain key employees; and unforeseen costs and other effects related to legal proceedings or investigations of governmental and self-regulatory organizations. We also direct your attention to any more specific discussions of risk contained in our Form 10-K and other public filings. We are providing these statements as permitted by the Private Litigation Reform Act of 1995. We do not undertake to update publicly any forward-looking statements if we subsequently learn that we are unlikely to achieve our expectations or if we receive any additional information relating to the subject matters of our forward-looking statements.